Business
Limitless Venture Group, Inc. Completes Acquisition of Jasper Benefit Solutions LLC, MGU, and Enters the $250 Billion Dollar MGU/TPA Industry
Limitless Venture Group, Inc. Completes Acquisition of Jasper Benefit Solutions LLC, MGU, and Enters the $250 Billion Dollar MGU/TPA Industry.
About this update from Limitless Venture Group Inc.
[{"type":"text","content":"TULSA, OK / ACCESSWIRE / December 1, 2020 / (OTC PINK:LVGI) Limitless Venture Group, Inc. ("LVGI" or "the Company") today announced it has acquired the majority interest in Jasper Benefit Solutions LLC, an MGU, through an equity and capitalization agreement.Jasper Benefit Solutions, LLC. (JBS), founded in 2018 with headquarters just outside Nashville, TN, is a Managing General Underwriter (MGU) specializing in risk management services for small to medium self-funded employer "Groups". MGUs, unlike general agents within insurance industries, are certified to underwrite health and life benefits policies on behalf of their carrier-partners. Jasper's niche is the unique ability and authorization from a well-known, nationally recognized insurance carrier to underwrite Groups as small as five (5) employees as well as offering limited benefit insured products for groups with part-time employees not able to participate in their health plans. "I'm impressed with Jasper's positioning in the small to medium Groups market which presents significant opportunity as it is largely underserved yet valued at over $30Bn in the US Mid-Atlantic region alone.", states Jason Bennett, Deal Flow Advisor and CEO of Unna, a modern population health platform and LVGI partner, also adding, "this strategic partnership in support of Jasper's vision and growth signifies not only LVGI's commitment to positive change in employer-sponsored benefits, but to establishing a footprint in a growth market ripe for disruption.""These are exciting times, and I am so thankful to have partners who are able to help expand our ability to provide solutions to what we see as an underserved market. The technology expertise and vision of LVGI and their family of companies will benefit the market and all our partners." Says Kathy Scira, Jasper CEO, who has 30 years' experience in this industry and has assembled a management team with 75 years combined experience.Devon Diaz, LVGI COO states, "this is a major acquisition for LVGI. Jasper becomes the cornerstone for our entry into the employer-sponsored benefits space. Although early-stage, we are investing in Jasper because we believe in their value proposition, highly experienced team, and growth potential. We expect to be cash-positive in ele...